Grandmaison returns at Aon’s construction business

Former AIG construction executive Thomas Grandmaison has re-emerged at Aon, The Insurer can reveal.

Mon 11 Feb 2019

Lambrou named CEO of Aon Commercial Risk Solutions

Aon has named Lambros Lambrou as the new global CEO of its Commercial Risk Solutions division.

Mon 11 Feb 2019

CNA share price drops 8%; Robusto confident Q4 “an outlier”

Investors reacted to CNA’s fourth quarter $84mn net loss announced today by sending the share price as low as $42.37 in morning trading, down 8 percent on Friday’s close.

Mon 11 Feb 2019

BB&T to switch on insurance growth button

Mon 11 Feb 2019

BB&T sees insurance growth opportunities with SunTrust deal

BB&T’s proposed merger of equals with SunTrust is being billed by the bank as a significant growth opportunity for its $1.96bn revenue retail and wholesale brokerage operations.

Mon 11 Feb 2019

New Berkshire Hathaway product may hurt competitors: KBW

Berkshire Hathaway’s further extension into the US SME commercial market may impact the shares of insurers such as The Hartford, The Hanover and Travelers, as well as brokers including Brown & Brown, KBW analyst Meyer Shields has predicted.

Mon 11 Feb 2019

RSG snaps up Oklahoma-based Westphalen

Ryan Specialty Group is set to acquire Westphalen Insurance Services, an independently-owned wholesale insurance brokerage located in Edmond, Oklahoma. 

Mon 11 Feb 2019

Axis takes AIG’s Quane for new head underwriting role

Bermudian Axis has swooped on AIG for its long serving head of global commercial property Robert Quane.

Mon 11 Feb 2019

CNA misses as cat losses and investment returns hit Q4 profits

US insurer CNA Financial has revealed a fourth-quarter net loss of $84mn. Its core loss per share of $0.08 - a core loss of $23mn - was a big miss from the mean estimate of six analysts surveyed by MarketWatch of $0.82 earnings per share.

Mon 11 Feb 2019

Lloyd’s CEO: Market to write $500mn more cyber in 2019

Speaking on the sidelines of The Insurer’s London Forum last week, new Lloyd’s CEO John Neal said the market is targeting to write £7.5bn more business in 2019, including $500mn more cyber premium, despite having retrenched in a number of under-performing classes.

Mon 11 Feb 2019

RT Specialty hires leading lawyer to create property coverage solutions

RT Specialty has hired legal veteran Mark Katz to develop and enhance property insurance products, programs and solutions.

Fri 8 Feb 2019

Roundtable: ‘Seismic change’ needed in sector attitude to risk

Senior industry executives gathered at a roundtable earlier this month to discuss how the (re)insurance market can best respond to the growth of unknown exposure within portfolios, who’s role it is to spearhead new product development and the challenges and opportunities this task offers.

Fri 8 Feb 2019

Willis to be “a lot more aggressive” about acquisitions

Willis Towers Watson is ready to return to its pre-2016 levels of acquisitions. It has about $800mn that it could put towards M&A or share buybacks, John Haley, the broker’s CEO, revealed on its fourth quarter earnings call.

Fri 8 Feb 2019

Fairfax promotes Clarke to COO

Fairfax Financial Holdings, the owner of (re)insurers Allied World and Brit, has named Peter Clarke as vice president and chief operating officer.

Fri 8 Feb 2019

Schroders names Lohmann ILS head and hires Holliger

Schroders Investment Management has appointed Dirk Lohmann as head of ILS in a new organizational structure that also includes the addition of former Munich Re executive Beat Holliger.

Fri 8 Feb 2019

Channel names Brit’s Forti active underwriter

Scor-backed Channel Syndicate 2015 has named Nick Forti as active underwriter.

Fri 8 Feb 2019